The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

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Latest Episodes:

TIP714: Bet Big, Bet Rarely: The Dhandho Investing Playbook w/ Kyle Grieve Apr 13, 2025

Show notes

On today’s episode, Kyle Grieve dives deep into Mohnish Pabrai’s The Dhandho Investor, unpacking its nine core principles through vivid case studies and personal reflections to help investors embrace simplicity, asymmetric bets, and the power of cloning proven ideas.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:34 - Why buying an existing business can be a smarter path than starting one from scratch.

11:32 - Profiting from businesses with short-term earnings visibility—and why it matters.

13:07 - The enduring strength and clarity of simple business models.

17:39 - How distressed businesses in troubled industries can become goldmines.

31:46 - Why hidden moats often offer the biggest edge—and how to spot them.

38:08 - The case for concentration: how fewer bets can lead to outsized returns.

50:28 - What modeling Costco reveals about risk, value, and margin of safety.

55:13 - The counterintuitive appeal of low-risk, high-uncertainty investments.

59:13 - How to use the cloning principle to shortcut your search for winners.

01:02:09 - Why your sell strategy should evolve with the quality of the business you own.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Read The Dhando Investor here.
Read The Intelligent Investor by Benjamin Graham here.
Read Richer, Wiser, Happier by William Green here.
Read The Little Book That Beats the Market by Joel Greenblatt here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP713: Why Serial Acquirers Outperform w/ Niklas Sävås Apr 11, 2025

Show notes

On today’s episode, Clay is joined by Niklas Sävås to discuss the business model of serial acquirers.

A serial acquirer is a company that grows primarily by repeatedly acquiring other businesses as a core part of its strategy. Over the past two decades, many serial acquirers have proven to be profitable investments in the stock market including Constellation Software and Lifco AB. In this episode, Clay and Niklas break down the most important factors to understanding the business model as investors.

Niklas Sävås is a senior equity analyst at Redeye AB where he does extensive research on serial acquirers in the Nordics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:55 - What a serial acquirer is and why serial acquirers are able to buck conventional thinking on making acquisitions.

08:54 - What the return profile is for serial acquirers in making private acquisitions.

10:35 - Best practices used by successful serial acquirers.

24:49 - Why it’s important to be the buyer of choice as a serial acquirer.

40:18 - The most common challenges that serial acquirers face.

49:01 - The importance of organic growth for serial acquirers.

54:41 - An overview of the Roko IPO.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out Redeye.
Investing by the Books Podcast.
REQ Capital Report.
Follow Niklas on LinkedIn & X.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

BTC229: Trump Tariffs, Market Chaos, Bitcoin Impact w/ James Lavish Apr 09, 2025

Show notes

Wall Street veteran and macro expert, James Lavish, and Preston Pysh have a candid back and forth about the Trump tariffs and what the impact in game theory looks like moving forward.

They also talk about how it's impacting fixed income, equities, and Bitcoin. Plus how the U.S. might navigate things from here and what's expected ahead.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:14 - How MAG 7 dynamics differ from MAGA trade policies

04:48 - Insights from the Street on where equities and crypto are headed

14:07 - How the U.S. dollar contributed to structural trade imbalances

14:49 - Why China's bond selloff may be a response to U.S. tariffs

15:56 - The potential size of the “boggie” in market selloffs and debt

16:23 - Ray Dalio’s framework for understanding today’s deeper economic shifts

16:41 - The case for the end of globalism and what replaces it

23:42 - Why Elon Musk might be at odds with his economic circle

28:02 - What tariffs mean for inflation and the bond market

36:19 - The role of Dollar Stablecoins in the evolving financial system

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

James’ X Account.
James’ The Informationist Newsletter.
James’ Bitcoin Opportunity VC Fund.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals Starter Packs.
Browse through all our episodes (complete with transcripts)here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP712: Advice for My Twenty-Year-Old Self w/ Stig Brodersen Apr 06, 2025

Show notes

In today's episode, Stig Brodersen shares 20 pieces of advice with his 20-year-old self.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:02 - Why the limits of your language are the limits of your world

06:35 - Why you need to leave your comfort zone

09:05 - Why you can grow from making yourself vulnerable

21:29 - Why you can have anything but not everything

33:29 - Why you should do what you say and say what you do

53:02 - Why you should be intentional with your relationships - but not too much

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Stig’s blog post on his portfolio and track record since 2014.
Stig’s podcast on his journey into financial independence.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP711: Netflix, Ferrari, & Managing Market Volatility w/ Arif Karim Apr 04, 2025

Show notes

On today’s episode, Clay is joined by Arif Karim to discuss Netflix and Ferrari. Arif has studied both businesses for many years as a co-Portfolio Manager at Ensemble Capital and knows these companies as well as about anybody.

Arif has been in the investment industry for over 25 years, and is currently working on transitioning to his new venture in the industry.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:31 - What is Netflix’s moat, and what makes it a great business?

10:45 - How Arif managed the share price volatility of Netflix in recent years.

21:34 - The growth initiatives Netflix pursued in light of the slowdown in subscriber growth.

42:02 - Why Ferrari is a business with win-win relationships similar to Costco.

01:09:04 - How Arif thinks about Ferrari’s and Netflix’s valuation.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Connect with Arif on LinkedIn.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

BTC228: Saylor's Bitcoin Strategy w/ Preferred Stock w/ Jesse Myers (Bitcoin Podcast) Apr 02, 2025

Show notes

Jesse Myers breaks down MicroStrategy’s bold new move, the MSTR preferred stock, and shares big-picture views on Bitcoin, scarcity, and economic transformation.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:58 - What MicroStrategy’s new preferred stock offering means for investors.

04:34 - The implications of MSTR’s free cash flow and interest expense dynamics.

07:23 - A sneak peek at Jesse’s Global Asset Value chart and what it reveals.

10:16 - How Bitcoin continues to shape MicroStrategy’s balance sheet and strategy.

15:48 - Whether we’re approaching a “debt event horizon” and what that might mean.

16:33 - Jesse’s insights on Bitcoin yield and accretive dilution.

23:29 - Misconceptions people have about the current economic landscape.

23:49 - Why appreciating scarcity is a key mindset shift in investing.

36:36 - What Jesse’s excited about in today’s rapidly evolving financial world.

37:24 - Jesse’s take on Elon Musk and Howard Lutnick’s vision for rewiring the U.S. economy.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Jesse’s X Account.
Jesse Myer’s Newsletter.
Jesse’s company, Onramp.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals Starter Packs.
Browse through all our episodes (complete with transcripts)here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP710: Common Stocks and Common Sense w/ Kyle Grieve Mar 30, 2025

Show notes

On today’s episode, Kyle Grieve explores how common stocks, paired with contrarian thinking and an understanding of cycles, can generate strong returns. We’ll cover lessons Ed shares from his journey—like allowing for imprecise valuations and learning from disappointing investments. We’ll also look at the value of investing alongside great investors and acting decisively during market panics.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

04:00 - Why common stocks offer more than just solid returns.

06:14 - One mindset shift to sharpen your contrarian investing edge.

07:43 - Three questions that clarify any tough investing decision.

12:54 - How averaging up became Ed’s unfair advantage.

16:14 - The shortcut Ed uses to spot great investments.

18:08 - Earnings, multiples, and perception: the formula behind significant returns.

24:35 - A turnaround playbook for deep value opportunities.

29:36 - Cyclicality decoded: spotting hidden patterns before the crowd.

49:23 - When bad investments still make you a better investor.

59:25 - Ed’s surprising win in a sector everyone hates.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Read Common Stocks and Common Sense here.
Follow Kyle on X and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP709: The Art of Long-Term Investing w/ François Rochon Mar 28, 2025

Show notes

On today’s episode, Clay is joined by François Rochon to discuss his long-term investing philosophy. François firmly believes that buying great businesses at fair prices is the key to success as a long-term investor. He also believes that trying to time the market is a fool’s errand and that stock price volatility is a gift to investors seeking to beat the market.

Since Francois started the Rochon Global Portfolio in 1993, he’s compounded capital at 13.6% per year on average net of fees, and the S&P 500 has compounded at 10.6%.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:28 - Why François spends the time to write a letter for his partners each year.

05:03 - François’s takeaways and lessons from 2024.

08:13 - The types of businesses François looks to invest in.

11:05 - How concentrated he prefers to make his fund.

13:18 - Why Giverny Capital will always remain fully invested.

29:47 - The four key risks for equity investors to consider.

40:07 - Why Francois recently made Booking Holdings and Brown & Brown core positions in his portfolio.

56:46 - Francois’s updated views on Alphabet.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Rochon’s firm: Giverny Capital.
Follow Clay on LinkedIn & X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

BTC227: Bitcoin, Taxes, and Smart Estate Planning w/ Jessy Gilger (Bitcoin Podcast) Mar 26, 2025

Show notes

From ETF debates to home heat mining, Jessy brings deep insights on navigating Bitcoin's evolution, securing your crypto, and building a future with sound strategy and security.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

13:24 - Whether Bitcoin can serve as a reliable retirement asset

22:41 - Practical steps for passing down Bitcoin to future generations

27:32 - How to safely and effectively donate Bitcoin to charity

29:36 - How Bitcoin ETFs are reshaping market dynamics and investor behavior

35:24 - Risks of centralized exchanges and why they’re considered “honeypots”

35:47 - Whether investing in MicroStrategy is a smart Bitcoin proxy play

36:08 - The pros and cons of Bitcoin ETFs vs. private keys

42:03 - How mining pool centralization could threaten Bitcoin’s decentralization

42:26 - Jessy's personal journey with home mining and heating

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Jessy’s X Account.
Jessy’s Financial Planning Company: Sound Advisory.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals Starter Packs.
Browse through all our episodes (complete with transcripts)here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Learn how to better start, manage, and grow your business with thebest business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

TIP708: Why Wall Street’s Playbook Is Broken w/ Harris Kupperman Mar 23, 2025

Show notes

On today’s episode, Kyle Grieve chats with Harris Kupperman about his investing strategy based around concentrated bets on macro and events. Harris has decades of market experience and shares his thoughts on why investors have so much difficulty navigating the markets.

Harris Kupperman is Praetorian Capital Management LLC's founder and chief investment officer. He focuses on inflecting trends and event-driven strategies. He’s also the author of Kuppy’s Korner, a widely followed investment blog. In addition to his investing work, he serves as Chairman and CEO of Mongolia Growth Group, giving him firsthand experience as an operator.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:57 - Unlocking macro investing secrets that actually work in real markets

15:58 - How Harris shifts between strategies based on market conditions

19:58 - Why cutting low-conviction positions can unlock capital for bigger winners

25:35 - The hidden advantage of focusing on absolute returns over benchmarks

28:18 How averaging up in commodity cycles can multiply your returns

31:13 - Why Harris believes many MAG-20 stocks aren’t worth the hype

42:38 - Why asset-heavy businesses still hold massive value in today’s economy

53:13 - Why stubbornness and patience are key to real investing success

56:54 - Hedging: A smart risk strategy or just a waste of returns?

1:01:32 - The case for moving fast when investing in inflection point businesses

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Read Harris' articles here.
Follow Kyle on Twitter and LinkedIn.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.